Construction Reporter
  • Home
  • Services
    • Planroom
    • Free Trial
    • Printing
    • Project Upload
    • Architects & Owners
    • General Contractors
    • Subcontractors
  • Become a Member
  • Magazine
  • News
  • Contact Us
  • About
    • About
    • FAQs
    • Privacy Policy
  • Employment Opportunity

greater affordable housing incentives use urged by advocacy group

5/13/2019

0 Comments

 
Picture
A stepped-up use of a federal low-income housing tax credit program may spur the construction of needed affordable housing.

So says the New York-based Corporation for Supportive Housing, which in a report is saying that the country is in current need of more than 1.1 million units of such housing.

That housing, the group maintains, also decreases a “high utilization of emergency services and public systems,” while “improving longterm health and well being for vulnerable individuals and families.”

Those living in such housing units are typically people with incomes defined as being at or below 30 percent of area median income.

The Corporation for Supportive Housing points in particular to the Low-Income Housing Tax Credit program, which was launched in 1986 and is designed to finance both the construction and rehabilitation of new and existing housing units.

The incentives in the program are geared especially for both investors and private developers taking on low-income housing projects.

As applied, the program provides those investors and developers with a reduction in their federal tax liability in exchange for taking on affordable rental housing projects.

All tax credits earned under the program can only be awarded only after those investors and developers provide detailed plans for the projects they are taking on.

Those plans are typically submitted to a state’s housing authority, which annually receives a certain amount of federal tax credits for the program, typically in the tens of millions of dollars.

In an interview with the magazine Apartment Finance Today, Robert Friant, Corporation for Supportive Housing spokesperson, asserted that in order for the incentives program to realize its full potential, “states need to reserve designated amounts of tax credit allocations specifically to create quality supportive housing.”

By Garry Boulard

0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Get stories like these right to your inbox.
    ​Sign up for our newsletter

    Subscribe

    Archives

    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017

    Categories

    All

AFFILIATES

Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
HOME
PLANS & PRICING
FREE TRIAL
MAGAZINE​
BECOME A MEMBER
PRINTING SERVICES
FAQS
CONTACT
​ABOUT

TIMELY, RELIABLE NEWS SINCE 1949 ​Construction Reporter
​
4901 Mcleod Rd NE STE 200A
Albuquerque NM 87109


​Phone: (505)-243-9793
Toll Free: (877)-292-5793
​Fax: (505)-242-4758

Copyright © 2022 Construction Reporter
User Agreement   Privacy Policy   Archive Policy
  • Home
  • Services
    • Planroom
    • Free Trial
    • Printing
    • Project Upload
    • Architects & Owners
    • General Contractors
    • Subcontractors
  • Become a Member
  • Magazine
  • News
  • Contact Us
  • About
    • About
    • FAQs
    • Privacy Policy
  • Employment Opportunity